AUDUSD has been in a downtrend for a very long time. How long you might ask? For over 8 years now AUDUSD has been making its way downtown. What does this mean for us traders? It means we should short AUDUSD on every pullback because the odds are heavily weighted in our favor. I am looking for a sell on the 4H trendline at .67240 with a take profit conservatively placed at .58093.
Your stop loss will ideally be outside of the trend in case your idea is invalidated. Price is noticeably slowing down on the 4H and losing momentum. You can see the choppy moves and RSI divergence clearly on lower time frames. This trade looks like a winner guys.
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As always trade safe and always use a stop loss!
Your stop loss will ideally be outside of the trend in case your idea is invalidated. Price is noticeably slowing down on the 4H and losing momentum. You can see the choppy moves and RSI divergence clearly on lower time frames. This trade looks like a winner guys.
If you guys found this analysis helpful you can show your support by giving this idea a like and follow me for more ideas.
As always trade safe and always use a stop loss!